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Brent Crude Falls Below $102, While WTI Slips Under $98

Gate data showed Brent crude dropped more than 1.00% intraday to $101.26 a barrel, while WTI crude futures edged 0.28% lower on the day.

Summary

Oil prices moved lower in the latest trading update, with Brent crude declining more than 1.00% intraday to $101.26 per barrel and West Texas Intermediate, or WTI, crude futures falling below $98 per barrel. According to Gate data, WTI was down 0.28% on the day, indicating broader weakness in energy benchmarks during the session.

Terms & Concepts
  • WTI crude futures: Standardized contracts tied to West Texas Intermediate oil, allowing traders to buy or sell crude at a future date.
  • Brent crude: A major global oil benchmark used to price much of the world’s internationally traded crude.